Shake Shack (SHAK) Receives “Equal Weight” Rating from Barclays
Barclays reissued their equal weight rating on shares of Shake Shack (NYSE:SHAK) in a report issued on Tuesday morning, Marketbeat reports. Barclays currently has a $49.00 price target on the stock, up from their prior price target of $36.00.
Other equities research analysts also recently issued reports about the stock. BidaskClub upgraded shares of Shake Shack from a hold rating to a buy rating in a research report on Thursday, October 26th. SunTrust Banks reiterated a buy rating and set a $48.00 price target on shares of Shake Shack in a research report on Thursday, October 12th. Morgan Stanley upgraded shares of Shake Shack from an underweight rating to an equal weight rating and reduced their price target for the company from $43.04 to $34.00 in a research report on Thursday, December 7th. Wedbush reiterated a hold rating and set a $36.00 price target on shares of Shake Shack in a research report on Thursday, November 2nd. Finally, Cowen lifted their price target on shares of Shake Shack from $36.00 to $42.00 and gave the company a market perform rating in a research report on Tuesday, December 19th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, three have given a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $38.94.
Shake Shack (NYSE SHAK) traded down $0.09 during mid-day trading on Tuesday, hitting $43.50. 330,257 shares of the stock were exchanged, compared to its average volume of 530,766. Shake Shack has a 52 week low of $30.12 and a 52 week high of $47.39. The firm has a market cap of $1,601.02, a P/E ratio of 70.16, a price-to-earnings-growth ratio of 3.52 and a beta of 1.43.
In other Shake Shack news, CEO Randall J. Garutti sold 8,000 shares of Shake Shack stock in a transaction that occurred on Wednesday, October 25th. The shares were sold at an average price of $35.62, for a total value of $284,960.00. Following the completion of the sale, the chief executive officer now directly owns 18,961 shares of the company’s stock, valued at approximately $675,390.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jonathan D. Sokoloff sold 522,867 shares of Shake Shack stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $40.32, for a total transaction of $21,081,997.44. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,058,737 shares of company stock valued at $43,750,477. Corporate insiders own 34.91% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the business. Schwab Charles Investment Management Inc. grew its stake in Shake Shack by 2.6% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 83,173 shares of the company’s stock worth $3,594,000 after acquiring an additional 2,077 shares during the period. Neuberger Berman Group LLC increased its stake in Shake Shack by 8.5% in the 3rd quarter. Neuberger Berman Group LLC now owns 72,800 shares of the company’s stock valued at $2,419,000 after buying an additional 5,700 shares during the period. Sylebra HK Co Ltd increased its stake in Shake Shack by 2.6% in the 3rd quarter. Sylebra HK Co Ltd now owns 1,001,849 shares of the company’s stock valued at $33,291,000 after buying an additional 25,546 shares during the period. OxFORD Asset Management LLP acquired a new position in Shake Shack in the 3rd quarter valued at approximately $1,423,000. Finally, Commerzbank Aktiengesellschaft FI acquired a new position in Shake Shack in the 3rd quarter valued at approximately $414,000. 83.46% of the stock is owned by hedge funds and other institutional investors.
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Shake Shack Company Profile
Shake Shack Inc operates roadside burger stands. The Company serves an American menu of burgers, hot dogs, crispy chicken, frozen custard, crinkle cut fries, shakes, beer and wine, among others. The Company’s signature items are its all-natural, hormone and antibiotic-free burgers, hot dogs, crispy chicken, crinkle cut fries, shakes and frozen custard.
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